Euro Crisis and the UK

Daily Mail: Reports that homeowners and UK business face an increase of banking costs due to the raising debt structure in Europe, the costs of borrowing from Europe by UK banks will be transferred down the food chain. Thus folks my original argument that taxing Euro banks although no UK banks will still be damaging, one way or another the UK will get shafted, all banks are inter connected, thus UK investors will end up paying European taxes for a Euro currency that the UK is not part off, that is how insane the present crisis is at the minute folks. Should the UK really be in the EU.

German/France and the Greek Debt

Telegraph: Reports that Germany and France are close to a deal on the Greek default crisis. The article notes that the Greek bailout would be paid by a tax on Eurozone banks, this is bonkers folks, if the banks have to pay more tax they will lend less to small business and people, thus the cut off of money back in to society. The biggest argument from small business of late is that banks wont even invest in good companies, well the banks can now argue that they have to take in account taxes from the EU, and with all taxes they will go up, thus less money in the banks, less investment and then recession, France and Germany GROW UP.

EU Summit and Greece

BBC News: Reports on the EU Summit on Thursday that will deal with the Greek debt crisis and its effect on other Euro Countries, the Summit is expected to green light a 2nd bailout of Greece. Folks this Summit has to get real results, if the only answer from the Summit is to throw money at Greece then it has failed. The Summit has to deal with the Greek debt itself, it would be better for the EU and Greece if Greece was allowed to default and then the EU and the IMF could really help Greece with a bailout to transfer Greece back to its natural currency and keep the Country afloat. If the Summit tries to get the banks to write off Greek debt the credit agencies have stated that they will see Greece as in default. Thus the wrong policy announced could be as bad as no policy. Lets be honest here folks, the PIG countries should be allowed to default and restart, otherwise its good money down the toilet to save the might ambitions of European politicians.